Funding a leading co-working operator with a pref-equity investment

November 2015

Excellion successfully executed and, through its affiliated investment fund, led a consortium to fund a private equity investment (operational real estate). The transaction value exceeds £10 million.

As part of this strategic investment, our consortium has become the majority owner of a 16,000 sqft, 4-storey office building in London, located within the desirable borough of Islington. To purchase the asset and operate it as a co-working location, our team partnered up with the Adir Group to form a joint venture. This joint venture now owns the asset as well as the operations within it.

The running of the co-working operation is led by the Adir Group, which has relevant experience and a strong track record; prior to this transaction, the Adir Group has already been operating this asset as a co-working location under the Net.works brand (www.net-works.london), and under the Adir Group stewardship, the co-working centre is already performing strongly.

The Excellion team led the structuring and the execution of this transaction and acted as lead principal via its affiliated, discretionary investment fund. This JV intends to create value by maximising the co-working space available and by undertaking a number of other value enhancing initiatives.

Ashley Marks and Robert Stafler will assume the roles of Non-Executive Chairman and Non-Executive Director on the board of the operating business, respectively.